Ashika Global Securities Limited has submitted a regulatory intimation to BSE Limited regarding director appointments in its unlisted material subsidiary, Ashika Stock Services Limited.

The Board of Directors of Ashika Stock Services Limited, at their meeting held on 3rd September 2026, approved the following appointments, subject to shareholder approval in the ensuing General Meeting:

Appointment Details:

1. Mr. Ajay Pratapray Shanghavi (DIN: 00084653)

  • Position: Non-Executive Independent Director
  • Term: First term of three consecutive years
  • Effective Date: 3rd September 2026
  • Retirement: Not liable to retire by rotation

2. Mr. Vatsal Jain (DIN: 11853346)

  • Position: Executive Director (Whole Time Director)
  • Term: Three consecutive years
  • Effective Date: 3rd September 2026
  • Retirement: Liable to retire by rotation

Director Profiles:

Mr. Ajay Pratapray Shanghavi:

  • Educational Qualifications: MBA, Mechanical Engineer, Production Engineer, Diploma in Foundry Technology
  • Experience: Over 39 years of experience across multiple sectors including engineering, manufacturing, packaging, IT, ITES, EdTech, financial services, media and entertainment
  • Board Experience: Served on boards of over 30 companies
  • Expertise Areas: Corporate management, business development, taxation, litigation, labour and union management, funding through equity and debt, business acquisitions, restructuring and amalgamation, setting up new projects, audit and compliance, conducting board and general meetings of listed and unlisted companies
  • Key Specializations: Corporate strategy, business growth, HR strategy, developing new businesses, products and markets
  • Relationships: No disclosed relationships between directors

Mr. Vatsal Jain:

  • Current Position: Chief Innovation Officer of Ashika Stock Services Limited
  • Educational Qualifications: Bachelor's and Master's degrees from University of Pennsylvania and The Wharton School, USA
  • Experience: Previously worked with Bank of America in New York in finance and technology
  • Role Responsibilities: Driving innovation, digital transformation and strategic growth across Ashika Group; developing and expanding alternative investment and global capital market businesses including public markets, private equity and private credit funds; leading development of proposed mutual fund business; modernizing Dhanush retail investment platform
  • Promoter Group: Part of the Promoter Group of Ashika Group
  • Relationship Disclosure: Son of Mr. Daulat Jain, Managing Director of both Ashika Global Securities Limited and Ashika Stock Services Limited